The RIA industry had a good year in 2006: median assets under management, revenues and net profits hit record levels last year, according to Rydex Advisor Benchmarking’s annual survey. Clearly they’re...
Does the designation you hold suggest you cheat the elderly? More state securities regulators are trying to find out, while the Securities Exchange Commission has just called its second annual “Seniors Summit&...
Don't panic yet, but in case you haven't heard, the SEC is taking a hard look at a major source of pay for reps: 12b-1 fees. Sure, the subject of 12b-1 reform has been bandied about for more than a decade. But SEC...
The securities industry has been doing an awful lot of hiring lately. June 2007 saw an increase of over 10,000 new jobs in the industry the biggest increase since June 2000, according to Brokerhunter.com. Most notably...
Registered Rep.: What is driving the record pace of RIA mergers and acquisitions seen in the past few years? David Devoe: The average advisor is 55 years old. About 30 percent are over 60 years old. So, you have folks...
If you provide estate-planning services to wealthy aging clients, there’s one detail you might not want to overlook—because many of your clients probably have. Although most wealthy Americans plan to leave...
In his new role as New York governor, Eliot Spitzer is joining forces with those he used to terrorize—Wall Street chief executives—to modernize financial services regulation in the state, the Financial...
Crooks come in all shapes and sizes—even, apparently, in the guise of SEC examiners and staff. The SEC issued an alert Thursday to securities industry firms, warning them to keep an eye out for impostors—...
SEC Chairman Andrew Donohue recently said that an examination of the 12b-1 rule, written 27 years ago, is a big priority for 2007. Registered Rep. spoke on the subject with Jeffrey Keil, principal at Keil Fiduciary...
The lawyer for a former Merrill Lynch broker has accused an NASD arbitrator of deciding a key part of the broker’s case before he even had a chance to offer his arguments.
